SMALL CHANGE | News Roundup
POPULAR COMMUNITY BANK REBRANDS WITH NEW NAME
Popular Community Bank has rebranded under a new name, Popular, and new legal name, Popular Bank. Popular has evolved over the last few years, refocusing on New York, New Jersey and South Florida. Since that Manuel Chinea change in 2014, Popular has almost doubled its assets in the U.S. Mainland from $5 billion to $9.2 billion. Popular additionally has made efforts to diversify its customer base with the launch of a new private banking platform, the expansion of its residential mortgage business and its health care and association banking niche businesses. “Our new name coupled with our agility and comprehensive platform, gives us a distinct opportunity to deliver on a value proposition centered around service and customer experience,” Manuel Chinea, COO of Popular, said in a statement. “With the expansion of Popular’s capabilities beyond those typical of community banks, the time had come to evolve our brand.” As part of the rebranding initiative, Popular unveiled a new tagline – “Our bottom line is you.”
EVANS BANK PARENT ELECTS TWO TO BOARD OF DIRECTORS Community financial services company Evans Bancorp Inc., parent company of Evans Bank, appointed Kimberley A. Minkel and Christina P. Orsi to its board of directors. “We’re excited to add these two very talented individuals Kimberley A. Minkel to our board,” David J. Nasca, president and CEO of Evans Bancorp Inc., said in a statement. “Their unique skill sets in business, regulated industries and economic development
will add depth and diversity to an already talented and exceptional board of directors.” Minkel is president and executive director of the Niagara Frontier Transportation Authority and is responsible for managing a transportation Christina P. Orsi system including light rail, bus, paratransit and two airports within Western New York. Orsi is associate vice president of the Office of Economic Development for the University at Buffalo (UB), where she leads its Business and Entrepreneur Partnership with a focus on connecting businesses with UB faculty for collaboration on research and development; enabling business access to programs like START-UP NY to help companies grow in New York State and supporting the commercialization of faculty inventions to move them from idea to market.
KEYBANK TO SELL INSURANCE TO USI
KeyBank has entered into a definitive agreement to sell Key Insurance & Benefits Services Inc. to USI Insurance Services (USI). KeyBank acquired Key Insurance & Benefits Services Inc. as part of the 2016 merger with First Niagara Financial Group. Key Insurance & Benefits Services Inc., with a division headquarters in Buffalo, has 350 employees working in eight offices in upstate New York, Pennsylvania and Connecticut. USI is headquartered in Valhalla, and is one of the largest privately held insurance brokerage firms in the United States, with more than 6,000 associates in over 150 offices. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second quarter 2018. Morgan Stanley & Co. LLC is acting as financial advisor to KeyBank in connection with the transaction. ■ Second Quarter 2018 | 23